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Stochastic partner selection for virtual enterprises: a chance-constrained approach

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  • José Crispim
  • Nazaré Rego
  • Jorge Pinho de Sousa

Abstract

A virtual enterprise (VE) is a temporary organisation that pools the core competencies of its member enterprises in order to exploit fast-changing market opportunities. Making successful collaborative partnerships is, in this context, a major challenge in today’s competitive business environments. The success of such a ‘virtual’ organisation is strongly dependent on its composition, and the selection of partners becomes therefore a crucial issue. This problem is particularly difficult because of the uncertainties related to information, market dynamics, customer expectations and technology speed-up, with a strongly stochastic decision-making context. In this paper, a chance-constrained approach to rank alternative VE configurations in business environments with uncertainty, and vague and random information, is proposed. This approach is based on a two-stage model: a chance-constraint multi-objective directional Tabu Search metaheuristic, complemented by a 2-tuple fuzzy linguistic representation model. Preliminary computational results clearly demonstrate the potential of the approach for practical application.

Suggested Citation

  • José Crispim & Nazaré Rego & Jorge Pinho de Sousa, 2015. "Stochastic partner selection for virtual enterprises: a chance-constrained approach," International Journal of Production Research, Taylor & Francis Journals, vol. 53(12), pages 3661-3677, June.
    • Handle: RePEc:taf:tprsxx:v:53:y:2015:i:12:p:3661-3677
    DOI: 10.1080/00207543.2014.986301
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    Cited by:

    1. Laura Calvet & Rocio de la Torre & Anita Goyal & Mage Marmol & Angel A. Juan, 2020. "Modern Optimization and Simulation Methods in Managerial and Business Economics: A Review," Administrative Sciences, MDPI, vol. 10(3), pages 1-23, July.

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